Bramar Estates, the property subsidiary of Brooks Macdonald Group, has been appointed as property manager and adviser to the Ground Rents Income fund.
The Ground Rents Income fund is a newly-launched closed-ended fund, listed on the Channel Islands Stock Exchange, that is to acquire a portfolio of freeholds and head leases.
The fund – which is expected to be capitalised at around £50m – aims to offer the potential for income generation and capital growth from ground rents.
Brooks Macdonald chief executive Chris Macdonald says: “We anticipate further opportunities developing for Braemar Estates to manage the underlying properties within the ground rents portfolio, as well as future capital raisings within GRIF [the Ground Rents Income fund].”
Non-executive chairman of the Ground Rents Income fund Malcolm Naish says: “GRIF is a publicly traded investment company that offers onshore exposure to the ground rents sector, which we believe is one of the most predictable sources of real estate income which is both secure and partly inflation hedged.
“The company has a well regarded property advisory team in the shape of Braemar Estates and a strong pipeline of opportunities, and we are extremely excited about its potential for income generation and capital growth.”